Wednesday, March 05, 2014

ADP: JOBS NUMBERS SUCK

ADP's February National Employment Report is out. The report estimates 139,000 American workers were hired to private-sector payrolls in February, below economists' consensus forecast of 155,000.ADP's estimate of January payroll gains was revised down to 127,000 from 175,000.

DESPITE THE RECENT UPTICK IN THE STOCK MARKETS, THE ECONOMY IS TANKING.IT AIN'T THE WEATHER. THE BASIC ECONOMY IS AWFUL.EVENTUALLY, THE BUBBLE WILL BURST.PERHAPS ONE FALSE MOVE OVER UKRAINE WILL DO IT; PERHAPS IT WILL BE SOME OTHER EXTERNAL EVENT.BUT SOON, SOMETHING WILL START A STAMPEDE FOR THE EXITS...

3 comments:

In my own case, my premium goes up nearly 20% on April 1 -- when the various ObamaCare provisions kick in for my private policy. I will be paying that bill within 10 days -- and cutting back on other spending. Millions of Americans are in an even leakier boat and will be cutting back, thus slowing down our economy even more.

The bad weather has slowed down building contractors here. I rent a house to a building contractor, and he hasn't had work in weeks! Therefore, the rent is in arrears. Meanwhile, I just had to pay over $3000 to get a new furnace installed into that house (installation today).

Other landlords are having similar issues.

But the weather isn't the entire picture. Last year, the building contractor to whom I rent had very little income -- and the weather was fine and dandy.